Post AoKLbRbhvkO3umGLIG by ZachWeinersmith@mastodon.social
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 (DIR) Post #AoKLbRbhvkO3umGLIG by ZachWeinersmith@mastodon.social
       2024-11-23T01:51:24Z
       
       0 likes, 1 repeats
       
       Kinda mindblowing:So the slowdown in productivity growth from 2007-2019 refers to a growth rate of about 1.5% a year. From 1945-1973 it was around 2.8%.But like, 1.5% a year still means that in a single generation, an hour of work produces 45% more stuff! In 50 years it's more than double the stuff.2.8% *is* much faster (double per generation) but still! By historical standards, 1.5% is zany fast.
       
 (DIR) Post #AoKLbT4SUKymSEiokK by ZachWeinersmith@mastodon.social
       2024-11-23T01:52:28Z
       
       0 likes, 0 repeats
       
       Put another way, if a person is born today, and the "slow" rate holds for 75 years, when they are 75, a single hour of labor is triple the output of when they were born.